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Quality goods are indeed expensive, that is irrefutable.

But also, there are a great many goods in the Western world that are obsolete in short order and for those, quality is less important than price/performance. What good is a very high quality 3G cell phone? When the labor to repair a lawn mower is more expensive than a new one, you start to understand the incentive structure of younger people.

Of course, you don't see this sort of thing in economies like Cuba or Venezuela.

Aug 19
at
5:32 PM

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